EagleBridge Capital Arranges $25,150,000 Mortgage Financing For Downtown Providence, Rhode Island Apartments

Chestnut Commons, 91 Chestnut Street
 Downtown Providence, Rhode Island

Boston, MA -- EagleBridge Capital, has arranged construction/permanent mortgage financing in the amount of $25,150,000 for Chestnut Commons located at 91 Chestnut Street in the Innovation and Design District and near the historic Jewelry District in Downtown Providence, Rhode Island. 

Brian D. Sheehan

The mortgage financing was arranged by EagleBridge principals Brian D. Sheehan and Ted. M. Sidel who stated that the loan was provided by a leading Massachusetts financial institution. The borrower was represented by the law firm of DarrowEverett.

Chestnut Commons is a six-story, 116,000 square foot, residential building consisting of 92 one and two bedroom residential units, 6000 square feet of street-level retail space plus 5000 square feet of publicly accessible green space.

Ted M. Sidel

Amenities will include a fitness center, resident accessible roof terraces, and covered parking. The apartments will offer premium contemporary finishes with kitchens featuring the latest Energy Star rated appliances, modern cabinetry, and ample storage space.

The new mixed-use community is located adjacent to 95 Chestnut Street, a six-story, 58,500 square foot, residential building consisting of 59 apartment units plus ground floor commercial space which was recently redeveloped by the developer of Chestnut Commons.

95 Chestnut Street Apartments
Downtown Providence, RI

Located nearby are the Brown University Warren Alpert Medical School, The Brown University Molecular Medicine Building, Women and Infants Hospital, Johnson and Wales University, and Lifespan’s world headquarters.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, and  r & d buildings, shopping centers,  hotels, condominiums and mixed use properties as well as special purpose buildings.

   

CONTACT:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place, Suite 2600

Boston, MA 02108

Tel: 617-292-7177 Ext. 300

www.eaglebridgecapital.com

ssidel@eaglebridgecapital.com

 EAGLEBRIDGE CAPITAL

 COMMERCIAL REAL ESTATE FINANCE

 DEBT   EQUITY   JOINT VENTURES

Hold-Thyssen Closes on Industrial Condo at Sunport Commerce Center in South Orlando, FL

N. Joelle Forster

Orlando, FL -- Hold-Thyssen, Inc., a full-service real estate services firm based in Winter Park , recently represented the buyer in the purchase of two industrial condos located at 8010-8034 Sunport Drive in the Sunport Commerce Center south of Sand Lake Road near Orlando International Airport .\

Martin Forster

   The Hold-Thyssen team of Martin Forster CCIM and N. Joelle Forster represented the Kissimmee-based purchaser who paid $505,000 for the two units comprising 5,904 useable square feet previously used as a photographic and video production studio. 

The buyer, who purchased the property as part of a Section 1031 tax deferred exchange, will continue a similar use.   

 The seller, Miami-based Orlando Sunport Flexxspace, Ltd. was represented in the transaction by Joey Barnes of Adler Group. 

Hold-Thyssen provides commercial property brokerage, leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current management portfolio includes more than 100 commercial properties throughout the United States .

Joey Barnes

CONTACTS:

           

Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 

407-691-0505,
afisher@HoldThyssen.com

Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505,
bhold@HoldThyssen.com

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142
Lvershelco@aol.com

NAI Realvest Brokers New Office Lease for Relocating Modeling/Simulation Firm at University Court in East Orlando, FL

Mary Frances West

ORLANDO, FL --- NAI Realvest recently completed a new lease agreement for a modeling and simulation firm at University Court located at 3361 Rouse Rd. off University Blvd. in east Orlando

The tenant is relocating from Fredericksburg , Va.   

 Mary Frances West, CCIM, Vice President at NAI Realvest negotiated the transaction representing the landlord, Interchange-Fl Rouse, LLC of Daytona Beach.

 The tenant JRM Enterprises Inc. signed a multi-year lease for Suite 175 with 1,380 square feet at University Court .
  

University Court, 3361 Rouse Road
 East Orlando, FL

The technology firm specializes in advanced sensor phenomenology modeling and simulation and provides products and services to various industry customers and government agencies throughout the armed forces including the Defense Modeling and Simulation Office.

CONTACTS:

Mary Frances West, CCIM, Vice President NAI Realvest, 

407-875-9989 mfwest@realvest.com;

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142 lversehlco@aol.com

Marcus & Millichap Arranges $665,000 Sale of 9,014-SF Dollar General Property in Orange City, IA

  

1103 8th Street Southeast, Orange City, IA

  

ORANGE CITY, IA -– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Dollar General, a 9,014-square foot net-leased property located at 1103 8th Street Southeast in Orange City, IA, according to Ari Ravi, regional manager of the firm’s Tampa office.

The asset sold for $665,000.

Daniel Hurd

Daniel Hurd and Edward Kemp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by  Hurd and Kemp.

 Barry A'Hearn, Broker, assisted in closing this transaction.

“We took on this exclusive listing with extremely high expectations. Our strategic marketing campaign allowed us generate eight offers in the first two weeks on market and ultimately procure a Buyer who closed at 98% of list price," Hurd said.

"This is just another excellent example of how the exclusive listing process yields the highest net proceeds for our Sellers.

"Marketing exposure, leveraging offers and vetting potential buyers is key to getting our deals to the finish line. Although interest rates and capitalization rates are on the rise, we continue to see huge demand for dollar store deals all across the country and look forward to continued success in 2019.”

Dollar General has recently executed an early extension leaving eight years remaining on a double-net lease, which allows for minimal landlord responsibilities. Additionally, there are four, five-year renewal options with rental increases in each.

Ari Ravi      

"The immediate area has experienced tremendous population growth of 35% within a one-mile radius and 11% population growth in both the three and five-mile radius.

"The site is conveniently located near several neighborhoods, Northwestern College, Orange County Municipal Airport and benefits from minimal area competition." 

CONTACT:

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

GLL completes sale of office tower on Chicago’s ‘Magnificent Mile’

444 North Michigan Office Tower, Chicago, IL

CHICAGO, IL –– GLL Real Estate Partners, a member of the Macquarie Group, has completed the sale of 444 N. Michigan, a 36-story office tower on Chicago’s ‘Magnificent Mile’ in the city’s Near North Side submarket.

Built in 1976, 444 N. Michigan totals 503,224 square feet and features a large conference center, a fitness center with showers, and secure bike storage.

Chicago's Magnificent Mile at Holiday Time

GLL purchased the building in 2006 and, during its ownership, upgraded the building’s mechanical systems and renovated the entrance and lobby. GLL also added new lobby retail amenities including Starbucks.

GLL Real Estate Partners is the real estate equity investment platform for Macquarie Infrastructure and Real Assets, a division of the Macquarie Group.

 A globally-active real estate fund manager and investment advisor headquartered in Munich, Germany, GLL operates 17 offices across the US, Europe, Asia, and Australia.

Starbucks on Magnificent Mile, Chicago, IL

  The group currently manages USD 8.4 billion, including more than USD 4 billion in the U.S. GLL employs varying commercial property strategies serving an investor group that includes pension funds, insurance companies and sovereign entities.

CONTACT:

Andrew Neilly 
andrew@gallen.com

Bridge Investment Group Acquires Station Square in Metro D.C.

Station Square Office Complex, Central Business District,
Silver Spring, MD

ATLANTA, GA (Dec. 28, 2018) – Bridge Investment Group’s subsidiary Bridge Office Fund Manager LLC (Bridge Office) announced today the acquisition of Station Square, a 510,200-square-foot, Class-A office complex in the center of the CBD in Silver Spring, Maryland.

Directly adjacent to a D.C. Metrorail station and featuring premier access to the Capital Beltway (Interstate 495) and downtown Washington, D.C., the three-building complex includes onsite parking and boasts one of the metro area’s best transit-oriented, live-work-play locations.

Ben Powell

Bridge plans to invest more than $12 million for renovations to the three buildings, which are located at 1100 Wayne Avenue, 1010 Wayne Avenue and 8484 Georgia Avenue.

Leasing will be led by Ben Powell and Gwen Fraker of Cushman & Wakefield.

Capital improvements include modernized lobbies, upgraded exteriors, modernized elevators, and significant improvements to mechanical systems. 

A transformed courtyard with new and exciting retailers and revamped entry into the 1010 Wayne Avenue building will encourage community across the complex. 

Gwen Fraker

Bridge also plans to unveil a new co-working concept at 8484 Georgia Avenue to create a more modern and tech-centric vibe and appearance.

The bi-level, modern office space overlooking Wayne Avenue will be heavily amenitized for tenants and showcase features such as modern common areas with a coffee bar, communal work space and a state-of-the-art conference room. 

The new owners plan to reposition select office spaces at Station Square for a new spec suite program to address growing market demand for move-in ready offices. The spec suites will include open floor plans, creative lounge space and an array of tech-friendly amenities that are relevant to the next generation of office users. 

 “The greater D.C. region continues to benefit from a diversifying job market, the influx of Fortune 500 companies and a talented workforce,” said Tommy Spinosa, Acquisitions Director of Bridge Investment Group.

Tommy Spinosa

 “Station Square is well positioned to capitalize on growing demand for future-ready workspace that offers walkability, a sense of community and urban-style amenities within a few steps of the Metro.

"Our planned improvements will create a world-class work environment that helps our tenants flourish and achieve the bottom-line results they seek.”

 Contacts:

Colleen Ann McNally · Assistant Account Executive

1718 Peachtree St., Suite 1048 · Atlanta, GA. 30309

M: 404-536-0117

www.thewilbertgroup.com

Lincoln Property Co. Closes $1 Million Sale of 3-Building Industrial Campus in DeLeon Springs, West Volusia County , FL

Sean Dupree

DeLeon Springs , FL  – Lincoln Property Company recently completed the $1 Million sale of a three-building industrial campus on 7.8 acres located off of U.S. Highway 17/92 at 5797 Lake Winona Rd. in DeLeon Springs just north of DeLand.     

Sean DuPree, CCIM, broker at Lincoln Property Company, listed the property totaling 46,890 square feet, and negotiated the transaction representing the seller, Orlando-based developer Robert Rader c/o Kirkland Development.   

Temme Berkstresser d/b/a Berky Boats, purchased the property to use the largest building as a boat manufacturing facility which was the properties previous use. The 22,090 square foot building includes 2,250± square feet of office space.

The three buildings constructed in 1986 and 1987 have excellent manufacturing facility features including grade level and dock-high overhead doors, exhaust fans, excess land for additional storage which is rare to find.    
      

The two smaller buildings each containing 12,400 rentable square feet are leased to AMB Sales and Central Florida Car Haulers.  One includes 2,250± square feet of office space and the other is 100 percent warehouse. The buyer will keep both leases in place. 

Buyer saw potential in the property due to the property’s previous boat manufacturing use, excess land for growth and as a great investment due to the two tenants in place, strong industrial market fueled by low vacancy rates and new residential/retail in the West Volusia market, DuPree said. 

 Contacts:

Sean DuPree, CCIM, Broker, Lincoln Property Company 

407-872-3500 sdupree@lpc.com

Beth Payan, Larry Vershel Communications Inc. Lvershelco@aol.com 

407-644-4142

LikeRE.com Announces New Video Conferencing Feature Added to its Real Estate Social Network

Britt Glassburn

DENVER, CO  Dec. 28, 2018 --Social Life Network, Inc. (OTCQB: WDLF), announced today that it will launch a new video conferencing paid feature to its LikeRE.com real estate social network. The new feature is six years in the making, says CEO Ken Tapp. "The addition of video conferencing built directly in to a members social profile page, is part of our original vision of the platform when we launched the company back in January 2013," Tapp says. Ken Tapp "Our mission has always been to make it easier for business professionals to connect and communicate with one another and their customers online, and this launch marks a huge milestone in our vision." The video conferencing feature for real estate agents, home builders, loan officers and other industry professionals now means they can hold team meetings, service their customers faster online, and even provide online paid services that are not yet offered in the industry. The feature will also make it easier and more cost effective for real estate schools, agencies, and industry association from around the world, to provide virtual classes and remote education online. "We're not only excited to be the only social network in the world that has this built-in feature for real estate professionals, but equally enthusiastic about the additional revenue model this provides the company," adds LikeRE.com president, Britt Glassburn. "Our plan is to roll-out the new feature throughout our social network starting January 1st, and with the many upcoming industry partnerships we plan to finalize in 2019, this paid feature is sure to be one of the most sought after that we offer on LikeRE."

DENVER, CO  December 28, 2018 / Social Life Network, Inc. (OTCQB: WDLF), announced today that it will launch a new video conferencing paid feature to its LikeRE.com real estate social network.

The new feature is six years in the making, says CEO Ken Tapp. "The addition of video conferencing built directly in to a members social profile page, is part of our original vision of the platform when we launched the company back in January 2013," Tapp says.

"Our mission has always been to make it easier for business professionals to connect and communicate with one another and their customers online, and this launch marks a huge milestone in our vision."

The video conferencing feature for real estate agents, home builders, loan officers and other industry professionals now means they can hold team meetings, service their customers faster online, and even provide online paid services that are not yet offered in the industry.

The feature will also make it easier and more cost effective for real estate schools, agencies, and industry association from around the world, to provide virtual classes and remote education online.

"We're not only excited to be the only social network in the world that has this built-in feature for real estate professionals, but equally enthusiastic about the additional revenue model this provides the company," adds LikeRE.com president, Britt Glassburn.

"Our plan is to roll-out the new feature throughout our social network starting January 1st, and with the many upcoming industry partnerships we plan to finalize in 2019, this paid feature is sure to be one of the most sought after that we offer on LikeRE."

About Social Life Network, Inc.

Social Life Network, Inc. is an artificial intelligence and blockchain powered social network and e-commerce technology company based in Denver Colorado. They launched their first social network in the cannabis and hemp industry in 2013, and have since launched niche e-commerce social networks to meet the growing demand for social technology in the residential Real Estate industry and many sports verticals including Tennis, Soccer, Hunting & Fishing world-wide.

For more information, visit 

 Contacts:

Jessica Starman 

jessica@elev8newmedia.com

https://www.SocialNetwork.ai/

Illustrated Properties’ Kathryn Gillespie Closes $20 Million Sale of Oceanfront Mansion in Manalapan, FL

Kathryn Gillespie

Manalapan, FL -- Kathryn Gillespie of Illustrated Properties, a member of The Keyes Family of Companies, has completed the $20 million sale of a waterfront mansion in Manalapan. The sale of the 1500 South Ocean Blvd. property closed on Dec. 20.

Gillespie secured the mansion listing from the seller, a Marcon family trust, in August 2018. She was able to achieve a 92 percent list-to-sale price and get the property sold in 118 days, while the average days on market for Manalapan homes above $10 million is 389 days.

1500 South Ocean Boulevard,  Manalapan, FL

The seller has previously listed the home for 453 days without finding a buyer before hiring Gillespie. Illustrated declined to disclose the buyer in the transaction.

This is the second-most expensive Manalapan sale in 2018 and the most expensive in the second half of the year.

“It was an absolute honor to successfully market this one-of-a-kind listing, which is as much of a work of art as it is a home,” said Gillespie. “We were able to leverage my strong ties to Palm Beach County and relationships, along with Illustrated’s powerful network – including its affiliations with Luxury Portfolio International and the Leading Real Estate Companies of the World^® – to achieve an incredible outcome.”

Manalapan mansion

Located on a 1.6-acre lot, the six-bedroom home totals 11,673 square feet under air and includes nine full and three half-bathrooms. The estate has a total of 356 feet of waterfront property, of which 178 feet are on the Atlantic Ocean. 

The waterfront loggia, 60-foot concrete dock equipped with electricity and infinity edge pool and spa round out the amenities that provide the one-of-a-kind experience synonymous with the South Florida lifestyle.

Kelvin Leonard

Along with multiple bedroom balconies overlooking the Intracoastal Waterway, the Manalapan mansion includes a his and her master bath, private office, guest suite, gathering lounge, club/media room with state-of-the-art sound system and wet bar, fireplaces, exercise room, gourmet kitchen with Sub-Zero and Wolf appliances, wine chiller, elevator, upstairs and downstairs laundry rooms and four car-stall air conditioned garage, with the potential to park eight cars.

The mansion was designed by Randall Stofft Architects and constructed by Terry Cudmore Builders in 2008.

Gillespie successfully leveraged Illustrated’s proprietary marketing strategies while incorporating her own techniques, including professional home staging and photography, utilizing all social media platforms to reach a global audience, strategic within key Palm Beach County markets.

“Kathryn’s work in the Palm Beach County luxury market has been outstanding,” said Kevin Leonard, Vice President of Luxury at Illustrated Properties.

“In just a short period of time, we have seen her produce a level of work that is unmatched, while surpassing the expectations in quality service we look to provide to each client. We are extremely proud of her for closing 2018 on a remarkable note with this Manalapan sale.”

Manalapan mansion

Gillespie is also the exclusive listing agent for a Boca Raton mansion that was selected as a finalist in HGTV’s international “Ultimate House Hunt 2018.” The 899 Enfield Street home, which is on the market for $11.5 million, was one of 12 worldwide properties to be chosen for the “Waterfront Homes” category.

Gillespie has lived and worked in the Palm Beach County area for more than 30 years, providing her a deep connection to the area and her clients. She has been heavily involved in the local community, serving as past chair of the Boys and Girls Club Board of Directors in Boca Raton and is involved with The Arc of Palm Beach County and Impact 100 Palm Beach County.

 Contacts:

Eric Kalis or Jasmin Curtiss, BoardroomPR

ekalis@boardroompr.com/jcurtiss@boardroompr.com

954-370-8999

Chatham Lodging Appoints Mary Beth Higgins to Board of Trustees

Mary Beth Higgins

WEST PALM BEACH, FL — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 137 hotels wholly or through joint ventures,  announced the appointment of Mary Beth Higgins to the company's board of trustees, effective immediately.

Ms. Higgins will serve as an independent director.

Ms. Higgins currently serves as the interim Chief Financial Officer (CFO) and Chief Operating Officer of Affinity Gaming Inc., a nine casino multi-jurisdictional gaming company.

In her current roles, she is responsible for the day to day operations of the casinos as well as all aspects of the Company’s accounting, finance and investor relation functions.

Jeffrey H. Fisher

Before joining Affinity, she served from 2017-2018 as CFO of VICI Properties, a REIT spin off from Caesars Entertainment, and prior to that as CFO for Caesars Entertainment Operating Company from 2014-2017.

 For the 17 years prior to that, Ms. Higgins served as CFO at companies such as Global Cash Access Holdings, Inc., Herbst Gaming, Inc., and Camco, Inc.

“Mary Beth brings tremendous financial acumen to the board given her outstanding track record serving as CFO over the past twenty years.

"Her experience as an executive with a REIT as well as other hospitality and gaming companies is a great fit for our board and we are very excited about her addition,” said Jeffrey H. Fisher, Chatham’s chief executive officer.

Ms. Higgins received her Bachelors of Science degree from the University of Southern California and her Masters of Business Administration from Memphis State University. 

Contacts:

Patrick Daly

Office Manager

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

  

 

Dennis Craven

Chief Operating Officer

dcraven@cl-trust.com

(561) 227-1386